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The air compressors are the devices that work on a positive displacement mechanism or dynamic displacement mechanism to convert the power into potential energy stored in the form of pressurized air. A compressor has set upper limits and lower limits of operation; when the upper limit of stored air reached, the compressor shuts off, which makes the stored pressurized air available for various end-use applications.
After the compressed air is used, pressure in the storage rank goes down, reaching the lower limit which sets the compressor to start again. Air compressors have important applications in various end-use industries such as food and beverages, oil & gas, manufacturing, power generation, medical and others. The growth of these industries will see the market for air compressors to rise in parallel during the given forecast period.
Based on its type, the global air compressor market can be segmented into portable and stationary. The growth in the industrial segment which requires maximum stationary air compressors will see the stationary air compressor hold a significant market share during the given forecast period. Based on lubrication, the global air compressor market can be segmented into oil-free and oil-filled.
Key Market Driver -
Key Market Driver – Growing industrialization observed across various countries
Key Market Restraint -
Key Market Restraint – Regular maintenance required and environmental considerations
The oil-filled air compressor will dominate the market owing to their increased applications in high-pressure applications, which requires cooling methods. Also, various functions performed by oil, such as cooling, lubrication, sealing and noise dissipation give better performance attributes to oil-injected as compared to oil-free screw compressors.
Based on its operation, the global air compressor market is segmented into rotary, reciprocating and centrifugal. Currently, the market is dominated by rotary compressors, which include screw and scroll compressors. This trend is set to continue due to the increased utilization of screw and scroll compressors owing to their better performance attributes. Based on its applications the global air compressor market can be segmented into oil & gas, food, and beverages, power generation, manufacturing, medical and others. The growing oil & gas sector will see this segment hold a higher market share in the market during the given forecast period.
The major market driver for the global air compressor market is the growth in industrialization observed in various countries across the world due to increased energy demand owing to increased population. The technological advancements taking place have enhanced the performance attributes of the compressors, which can also be the factor that will augment the growth of the global air compressor market.
The key market restraint for the global air compressor market is the regular maintenance required for air compressors. Also, the noise pollution caused and the emission of greenhouse gases can hamper the growth of the global air compressor market.
Some of the major companies that are present in the global air compressor market are Sulzer, Ingersoll Rand, Bauer Compressors Inc., Senco Brands, Inc, Dewalt, Atlas Copco, Siemens, General Electric Manufacturing Company, Quincy Compressor, Aerotecnica, S.A. Grupo Hastinik, MAN Diesel & Turbo, Kaishan Group, Jereh Group, Kerui Group US Llc, BOGE Compressors.
The global air compressor market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific region holds the maximum opportunities for the growth of the global air compressor market owing to the presence of a huge industrial market, increasing exploration activities for oil and gas, rise in district cooling systems in the region, and automotive sector rising at a rapid pace. In the past years, North America has held a dominant position in the global air compressor market owing to the rise in the number of industries and the number of oil and gas exploration activities taking place in the region.
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Europe region also holds a significant share in the global air compressor market owing to increasing district cooling in the region along with the presence of major manufacturing industries in the region. The Middle East and Latin America are anticipated to witness significant growth in the given forecast period owing to the growing oil and gas industry in Middle East and growing food and beverage industry in Latin America.
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